Global Business Travel Group (NYSE:GBTG) Hits New 12-Month High at $7.11

Global Business Travel Group, Inc. (NYSE:GBTG)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.11 and last traded at $7.11, with a volume of 324581 shares trading hands. The stock had previously closed at $6.89.

Analyst Upgrades and Downgrades

GBTG has been the subject of a number of recent research reports. Evercore ISI lifted their target price on Global Business Travel Group from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Citigroup lifted their price objective on shares of Global Business Travel Group from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th.

Global Business Travel Group Price Performance

The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 1.15. The company has a market capitalization of $3.32 billion, a PE ratio of -18.03 and a beta of 0.62. The stock’s 50-day moving average is $6.60 and its two-hundred day moving average is $6.16.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Amalgamated Bank lifted its stake in shares of Global Business Travel Group by 299.1% during the 2nd quarter. Amalgamated Bank now owns 4,342 shares of the company’s stock worth $29,000 after acquiring an additional 3,254 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Global Business Travel Group by 53.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,650 shares of the company’s stock worth $43,000 after purchasing an additional 2,323 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Global Business Travel Group during the second quarter worth $108,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Global Business Travel Group during the first quarter worth $109,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Global Business Travel Group during the second quarter valued at $143,000. Institutional investors own 82.46% of the company’s stock.

About Global Business Travel Group

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.